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Navigating the Future of Global Marketing

Explore the forces shaping global marketing’s future, leadership challenges, career opportunities. Learn about growth versus poverty, free markets versus protectionism, population dynamics, global institutions. Understand convergence and fragmentation of consumer tastes, industry boundaries, virtual enterprises. Discover the demands on global leadership and key characteristics of successful business leaders. Discover career paths in global marketing amidst environmental complexity and contradictory trends.

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Navigating the Future of Global Marketing

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  1. Global MarketingManagementA European Perspective The Future of Global Marketing Warren J. Keegan Bodo B. Schlegelmilch

  2. Overview • Forces Shaping the Future of Global Marketing • Leadership Challenges • Careers in Global Marketing • Summary

  3. Knowing the major forces shaping the future of global marketing Understanding the demands that increasing business complexity places on global leaders Learning about the opportunities open to students that intend pursuing a career in global marketing Learning Objectives

  4. Growth and Prosperity vs. Poverty and Despair Free Markets vs. Growing Protectionism Population Growth vs. Population Shortage Global Institutions vs. Resurgence of Nation States Convergence vs. Fragmentation of Consumer Taste Industry Concentration and Blurring Industry Boundaries Virtual Enterprises and Electronic Markets Forces Shaping the Future of Global Marketing

  5. Most of the world‘s poor countries are getting richer Broader global prosperity translates into dramatic growth opportunities However, the gap between the rich and the poor is increasing Growth and Prosperity vs. Poverty and Despair

  6. The fight between market vs. state-control is over Markets are king the world around However, protectionism appears to be on the rise Must economic democracy be combined with political democracy? Free Markets vs. Growing Protectionism

  7. Over the last 40 years, world population doubled from 3 to 6 billion World population expected to reach 9 billion in 2050 Development might overwhelm the earth’s resources However, decreasing birth rates and increasing life expectations in developed world might be most important societal challenge of the future Population Growth vs. Population Shortage

  8. Influence of nation states decreases Political and economic power appears to be transferred to regional and global institutions (e.g. EU, WTO, IMF, OPEC) However, there’s a contradictory trend, namely a floury of nationalism and a sprouting of new countries everywhere Rule of Global Institutions vs. Resurgence of Nation States

  9. International marketers faced with increasingly complex trends Convergence of tastes around the world e.g. Coca Cola, Perrier, McDonalds, Madonna However, there is a trend towards fragmentation of tastes and consumption habits e.g. Italian suit, Chinese dinner, American jeans New phenomenon: Fragvergence Convergence vs. Fragmentation of Consumer Taste

  10. Dominance of mega-mergers Bankers Trust (US) acquired by Deutsche Bank (G) Amoco (US) acquired by British Petroleum (GB) Chrysler (US) acquired by Daimler Benz (G) Blurring of Industry Boundaries Car companies sell financial services (e.g. GM) Petrol stations sell food and non-food (e.g. BP) Software companies sell consulting services (e.g. SAP) Uncertainty increases Industry Concentration and Blurring Industry Boundaries

  11. Virtual enterprises and electronic markets represent transformation of economy Internet becomes virtual marketplace Information technology becomes key instrument for managing external relationships Mushroom companies: grow overnight - might disappear rather quickly (e.g. Boo.com) Virtual Enterprises and Electronic Markets

  12. Demands on Global Leadership formulate and implement global strategies that- leverage worldwide learning- respond fully to local needs and wants- draw on all the talent and energy of every member of the organization global vision and sensitivity to local needs understanding of uncertainty created by global economy Leadership Challenges

  13. World’s most respected business leaders Jack Welch - General Electric Bill Gates - Microsoft Lou Gerstner - IBM Jürgen Schrempp - DaimlerChrysler Micheal Dell - Dell Computers Warren Buffet - Berkshire Hathaway Leadership Challenges

  14. Global experience counts Community of European Schools (CEMS) Traineeships (AIESEC as starting point) MBA programmes Top ranked international business programmes Thunderbird - American Graduate School of International Management University of South Carolina University of Columbia Careers in Global Marketing

  15. Future of global marketing is characterized by increased environmental complexity and contradictory trends growth and prosperity vs. poverty and despair free markets vs. protectionism population growth vs. population shortage convergence vs. fragmentation of consumer taste industry concentration and blurring industry boundaries Summary

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